Wednesday, 22 September 2021
With the Federal Reserve’s signal that tapering of their bond-buying programme is not far away and as concerns about China Evergrande Group’s debt woes eased, the S&P 500 rose 1%, Dow Jones Up 1.1% and Nasdaq climbed 1%, on Wednesday.
In a Press Conference, Fed Chairman, Jerome Powell stated: “Participants generally view, so long as the recovery remains on track, a gradual tapering process that concludes around the middle of next year is likely to be appropriate”.
Meanwhile the tech sector was dragged lower by Facebook. The social media giant declined 4%, following its warning that Apple ad-tracking would hurt growth.
The S&P 500 rose 1% as of 4:01 p.m. New York time
The Nasdaq 100 rose 1%
The Dow Jones Industrial Average rose 1%
The MSCI World index rose 0.6%
The yield on 10-year Treasuries declined two basis points to 1.30%
Germany’s 10-year yield was little changed at -0.32%
Britain’s 10-year yield was little changed at 0.80%
The dollar index rose 0.094%
The euro fell 0.3% to $1.1694
The British pound fell 0.3% to $1.3620
The Japanese yen fell 0.5% to 109.79 per dollar
Bitcoin last rose 6.93% to $43,409.48 following three straight days of declines.
West Texas Intermediate crude rose 2.1% to $71.97 a barrel
Gold futures fell 0.6% to $1,767.60 an ounce
The week ahead
Thursday: Bank of England rate decision
Friday: Fed Chair Jerome Powell, Fed Governor Michelle Bowman and Vice Chairman Richard Clarida discuss pandemic recovery